Sky E&M merges with LD Story "Expanding Artist IP... Strengthening Content Portfolio"

[Asia Economy Reporter Hyunseok Yoo] On the 19th, Sky E&M, a subsidiary of Chorokbaem Media, announced that it has signed an acquisition contract with ‘LD Story,’ which manages top domestic broadcasters such as Jang Dong-min, Jang Do-yeon, and Yoo Se-yoon as affiliated artists.

Through this contract, Sky E&M is expected to become the largest agency in Korea, managing over 70 affiliated artists. Chorokbaem Media plans to strengthen its business portfolio by building various revenue models based on the IP of its affiliated artists.

Sky E&M is a management-specialized agency representing Lee Young-ja, Kim Sook, Jang Yoon-jung, and others, with strong content production capabilities. LD Story is a management company representing top domestic broadcasters such as Jang Dong-min, Jang Do-yeon, and Yoo Se-yoon as affiliated artists.

With the merger of the two companies, Sky E&M will be reborn as a mammoth agency representing more than 70 celebrities, including top MCs, singers, actors, comedians, athletes, and creators in Korea. The celebrities affiliated with both companies actively participate in various programs as a collective representing the Korean broadcasting industry.

No Jin-young, head of Sky E&M’s TN Business Division, said, “Through long-term exchanges and cooperation with LD Story, the specialized fields of both companies will come together to create high synergy,” adding, “Based on the strong trust between the two companies, we plan to actively support the activities of not only the current affiliated artists but also newly joining artists in the future, while striving to diversify our business.”

Sky E&M acquired and merged ‘Bliss Entertainment,’ which manages Lee Chan-won, Kim Hee-jae, and others, at the end of last year, and is establishing a stable growth foundation in various content fields within the entertainment industry.

A representative of Chorokbaem Media stated, “With this acquisition contract of LD Story, the IP base of affiliated artists under our subsidiary Sky E&M will be further expanded, enabling the production of various content,” and added, “Along with the recently launched ‘Creator Alliance’ with nine media production companies, we expect synergies in expanding IP-based NFT (Non-Fungible Token), metaverse, and e-commerce business areas in collaboration with strategic partners such as Lotte Home Shopping, Bithumb, Bident, and Wemade, in which we have made equity investments.”